Moody's affirms 'Baa2' rating on Holy Name Medical Center's bonds

Moody's Investors Service affirmed the "Baa2" rating on Teaneck, N.J.-based Holy Name Medical Center's approximately $40 million of revenue bonds.

The ratings affirmation reflects the medical center's stable market position, conservative debt structure and defined contribution pension plan limiting unanticipated calls on liquidity.

The ratings agency revised the medical center's outlook to negative from stable. The revision is a result of the medical center's weaker-than-budgeted operating performance in fiscal year 2016 with similarly weak performance expected for FY 2017 as the hospital continues to absorb increased expenses related to its physician employment strategy.

More articles on healthcare finance:
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